What are the most essential insurance covers?

The types of insurance a family may need can vary based on their unique circumstances, such as income, assets, lifestyle, health and financial goals. 

Most should prioritize health, life, income protection, home, funeral and contents and car insurance. Depending on specific circumstances like pet ownership, frequent travel or rental properties, additional coverage like pet, travel or landlord insurance may also be essential. The goal is to balance cost with coverage to ensure financial security.